Fyers 30 Days Challenge - Discussion

[timepass]

Refunding brokerage to winners like in case of Zerodha or Fyers sounds logical as there are only few (95% traders lose money - the old quote , but here it talks about refunding brokerage to losers in the share market. How does it make sense. Hence sounds fishy to me.

Ok, what about refunding 50% brokerage to the losers, or 75% brokerage ?

 

[kingsmasher1]

Ok, what about refunding 50% brokerage to the losers, or 75% brokerage ?

25% to 50% brokerage sounds okay (less fishy ) as i would assume its a new broker, and eager to get some quick clients, hence refunding partial brokerage to the losers.

To make it better - I would have done the reverse of winning. Refunding 50% brokerage to top "n" number of losers - This is because not everyone in the stock market would like to be amongst the top losers only to get a peanut of what the total amount they lost (in terms of brokerage refund - i assume it would be a discount broker)

 

[timepass]

I would be against any kind of competition (top "n" customers), but a blanket refund to all losers. Does it sound plausible ? Is it possible that some broker may come out with a scheme like that ?

 

[kingsmasher1]

I would be against any kind of competition (top "n" customers), but a blanket refund to all losers. Does it sound plausible ? Is it possible that some broker may come out with a scheme like that ?

In that case, the broker survives from the brokerage generated by the top 5% clients only - who are winners, whom i would assume would be HFT traders (institutional investors) mostly. And yes, the volume generated by them would be much greater than the 95% retail clients who lose money, and who gets a brokerage refund. So, thinking from that perspective sounds okay from broker perspective.

 

[timepass]

Perhaps the broker makes money on the turnover too, thus reducing the survival to maybe 30-40% customers. Maybe the broker can promise 50% refund to ALL the customers.

In that case, the broker survives from the brokerage generated by the top 5% clients only - who are winners, whom i would assume would be HFT traders (institutional investors) mostly. And yes, the volume generated by them would be much greater than the 95% retail clients who lose money, and who gets a brokerage refund. So, thinking from that perspective sounds okay from broker perspective.

 

[timepass]

Hello Fyers,

Sorry if this appears irrelevant to the topic, but all this has a point. Hopefully you must've gotten that by now.

Your business, as much as a broker, is also a retailing business. When you look at business improvement strategies, you look as much as at the bigger established brokers as at successful online retailers.

There will always be competition, cut throat competition. Some will copy your marketing strategies, some will offer better rates, some will offer the same trading tools that you do etc..etc. And all the time you will have customers clamouring for more - more discounts, more facilities, more of everything.

So, while your 30-day challenge is a great scheme, keep it up, but keep it barebones. There will be other marketing schemes in future. Maybe some month you will offer discounts to all the customers, sometime you may offer post-facto rewards, maybe 3 months free for new members and whatever your marketing department thinks of.

What will make the real difference in the long run, apart from discounted brokerage, is your trading tools and customer support. Retail customers turn into a mob when there is a problem - outage of any kind.

 

[Tejas Khoday]

Hello Fyers,

Sorry if this appears irrelevant to the topic, but all this has a point. Hopefully you must've gotten that by now.

Your business, as much as a broker, is also a retailing business. When you look at business improvement strategies, you look as much as at the bigger established brokers as at successful online retailers.

There will always be competition, cut throat competition. Some will copy your marketing strategies, some will offer better rates, some will offer the same trading tools that you do etc..etc. And all the time you will have customers clamouring for more - more discounts, more facilities, more of everything.

So, while your 30-day challenge is a great scheme, keep it up, but keep it barebones. There will be other marketing schemes in future. Maybe some month you will offer discounts to all the customers, sometime you may offer post-facto rewards, maybe 3 months free for new members and whatever your marketing department thinks of.

What will make the real difference in the long run, apart from discounted brokerage, is your trading tools and customer support. Retail customers turn into a mob when there is a problem - outage of any kind.

Thanks a lot for reminding us of these things @timepass. Your points have been duly taken on a positive note. We will do our best!

 

[Kumar Nischay]

Hi, i am satisfied with the 30 day challenge and would like to see more such type of competition as such they are kind of mirror to show are your trading analysis in par with others.

 

[Fs0046-fyers]

Hii, i am also looking for some more similar types of offers. Luckily i am one of those individuals who won this and looks forward to win again.

 

[Fs0046-fyers]

In that case, the broker survives from the brokerage generated by the top 5% clients only - who are winners, whom i would assume would be HFT traders (institutional investors) mostly. And yes, the volume generated by them would be much greater than the 95% retail clients who lose money, and who gets a brokerage refund. So, thinking from that perspective sounds okay from broker perspective.

Hi Kingsmasher1,
As per my understanding u can earn money in market only if u trade like a invester. So as per my experience those who won the challenge are mostly those individuals who trades limited therefore brokerage generated will also be much lower compared to loosers. So trade less if u wana make money and safe brokerage too.